Posted Jun 30, 2015 by Martin Armstrong
A slew of emails have been coming in asking if we would help Greece if they leave the euro. ABSOLUTELY YES! This week we have people in Athens meeting as I write, offering at this stage an informal proposal should the people vote to leave the euro. This would be the GREATEST of all events that would not merely restore the dignity of Greece, it would quickly show the way out. So yes, we are presenting in Athens as I write the general outline of our proposal that was submitted to Cyprus, which then newly elected President had run on a platform of joining the euro. He sacrificed his nation and his people on the political altar in Brussels.
If Greece would accept our Cyprus Proposal principle, we in fact would move our headquarters to Athens in a blink of an eye. Every hedge fund would move from Cayman Islands, who will begin to report on them to the rest of the world RETROACTIVELY on the date of the ECM – October 1, 2015.
During the Great Depression, Britain abandoned austerity (gold standard) and its economy was the first to reverse out of the lows. This was observed by George Warren, and was used to advise Franklin Roosevelt (FDR) to devalue the dollar. Then too, FDR’s Brains Trust argued for austerity to maintain confidence in the bond market which had collapsed thanks to the Sovereign Debt Crisis of 1931. We are making the very same stupid mistake – oppressing the economy and the people, causing massive unemployment, and a lost generation of the youth who all try to support debt that will NEVER be repaid.
This is the perfect opportunity for Greece to once again lead the world: abandon the euro, readopt the drachma, suspend all payment of debt, convert debt ro coupon exchangeable for shares in domestic corporate investment only (debt to private equity swap), and eliminate federal taxation; do this and you will hear the loudest sucking sound as assets pour into Greece. All we need to do is look even at the U.S. economy pre-1913, before the introduction of the income tax. The Founding Fathers FORBID direct taxes in the Constitution for a reason. This is not some hair-brain idea; this is abandoning Marxist theory of manipulating society.
What lies ahead is more than simply forecasting markets. We face a swing to the very hard left that is stripping us all of our freedom and rights. The people in charge are not some devious cabal, but politicians who never see government as the problem – only the solution. Yet, “A” students end up working for “C” students or dropouts (non-conformists); “B” students, as well as “D” students, work for government.
We stand ready to show the way out of this nightmare. That is the only worthwhile purpose left in life. What good is making all the greatest trades in history, making a fortune, if you cannot spend it or travel because you are desperately in need of money? What kind of a world will we leave behind? National debts only strip us of all liberty, for we have no right to even vote upon debts created before us. We are saddled with debt and interest payments that have reached 70% of the total national debt, leading to many people losing half of their income to support an onerous debt that we never created, nor benefited from. This is TAXATION WITHOUT REPRESENTATION. Is this a world we really want to leave to our children?